Evaluation of combating money laundering in the Central Bank, an applied study in Iraqi private banks


The current research aims to evaluate the fight against money laundering in the central bank and to identify the supervisory procedures of the central bank in financial institutions to reduce money laundering operations as well as the procedures used in the central bank to reduce this phenomenon, and the research focused on the Central Bank of Iraq and (3) private commercial banks Through them, the checklist for the research topic was filled out, and the financial reports of the research sample banks for the period (2017-2020) were analyzed. As for the practical side, the research sample included the Central Bank of Iraq, as well as a group of private Iraqi banks (Development Bank, Gulf Bank, and United Investment Bank), and the research reached a number of conclusions, the most important of which is that the Central Bank of Iraq analyzes and compares the reports sent to it using financial indicators represented by many The accounting ratios extracted from the financial statements of those institutions and to check whether these reports are sent to the supervisory authorities to ensure the safety of the work of the financial institutions. Compliance, and increased follow-up of the bank's procedures in seizing the funds used in the commission of the money laundering crime and how to fund it. In addition to the need to intensify the efforts of the Central Bank of Iraq to expand the base of financial inclusion in the country and to include the monetary mass that exists outside the banking system into the banking system in order to access the ease of monitoring it and reduce the risks of money laundering as well as the ease of tracking it and developing a strategic plan to achieve this goal.